TAIPEI: Gourmet Master Co Ltd , best known for its coffee shop and bakery chain 85°C, reported that sales last year rose 14.2 percent annually to NT$20.5 billion (US$609.7 million), topping its domestic peers.
The company said that sales last month rose 10 percent from a month earlier to NT$1.95 billion.
The company said that revenue derived from its China-based operations last year grew 10 percent to make up about 71 percent of total sales.
More than 100 Taiwan-based stores have been renovated since April last year, a decision that has propelled domestic sales, it said.
WOWPRIME
Separately, Wowprime Corp, the nation’s largest restaurant chain operator, reported sales last year declined 0.78 percent annually to NT$16.78 billion.
Wowprime said that although its Taiwan-based operations saw sales decline 11.57 percent annually to NT$10.27 billion, revenue in China grew 22.83 percent to NT$6.51 billion.
Sales last month increased 0.28 percent from a month earlier to NT$1.4 billion, reflecting the company’s efforts to adjust a number of unprofitable stores and underperforming brands, Wowprime said.
About 10 more stores are to be closed this year as part of the company’s plans to expand its presence at shopping malls, Wowprime said.
SHARES
Gourmet Master shares yesterday gained 1.23 percent to close at NT$206.5.
Wowprime shares gained 0.72 percent, closing at NT$139.
Both stocks outperformed the TAIEX, which rose 0.72 percent to 7,824.61.
